Start by slicing a nice, thick slice of bread.
Cut a hole out of the middle of it with a small biscuit cutter.
Butter both sides of the bread.
Heat a skillet to medium to medium-high heat. When the skillet is hot, put the buttered bread in it.
Place another pat of butter in the hole.
Gently crack your egg and slowly put it in the hole. The slower you go, the more the egg is going to cook right there in the hole and be contained by the bread.
Monitor your bread. When the down side is browned, use a spatula and gently flip the whole thing over.
Cook until the bread is browned on the other side. The egg will be cooked medium, with hard whites and soft yolks.
Brown the spare pieces in the same pan.
Serve and enjoy.